Section 391A.685 - Use of grant money to award scholarships; limitation on amount of scholarship; certain amount of scholarship retained by State Board until certain conditions are met1. Each university, college or other provider of an alternative licensure program that is awarded a grant of money from the Account pursuant to NRS 391A.680 shall use the money to award Nevada Teacher Advancement Scholarships to students who will attend the university, college or other provider of an alternative licensure program with the intent to complete a program described in subsection 1 of NRS 391A.680. Such students may include, without limitation, students who have completed a bachelor's degree and taught in a public school in this State for at least 2 years.2. A university, college or other provider of an alternative licensure program may award a Nevada Teacher Advancement Scholarship to a scholarship recipient in an amount: (a) Not to exceed the cost of receiving a master's degree at a public university in this State prorated over the number of semesters required for the student to complete the program; and(b) Equal to the difference between the amount of tuition, registration fees and other mandatory fees charged to the student for the program described in subsection 1 of NRS 391A.680, excluding any amount of the tuition and fees that is waived by the university, college or other provider of an alternative licensure program, and the total amount of any other gift aid received by the student.3. A university, college or other provider of an alternative licensure program that awards a Nevada Teacher Advancement Scholarship shall, at the beginning of each semester disburse to the scholarship recipient 75 percent of the scholarship money awarded to the scholarship recipient for the semester.4. A scholarship recipient may only receive the 25 percent of the scholarship money that is retained by the State Board pursuant to paragraph (b) of subsection 2 of NRS 391A.680 if the scholarship recipient:(a) Completes the program for which he or she was awarded the scholarship;(b) Maintains employment as a teacher at a public school in this State for 3 consecutive school years immediately following completion of the program unless the State Board waives this requirement for good cause shown; and(c) Meets any other requirements established by the State Board.5. To receive the 25 percent of the scholarship money retained by the State Board pursuant to paragraph (b) of subsection 2 of NRS 391A.680, a scholarship recipient who meets the requirements set forth in subsection 4 must request the State Board to disburse the money within 1 year after the 2-year anniversary of the date on which the scholarship recipient meets the requirements of subsection 4.6. As used in this section, "gift aid" means any grant or scholarship awarded to a student which is restricted for use only to pay for tuition, registration fees or other mandatory fees.Added to NRS by 2023, 2194Added by 2023, Ch. 387,§64, eff. 7/1/2023.